The June jobs and economy report is in and the outlook is good. Very good.
Trump always said he would be a great president for the economy and so far he has more than delivered on that promise.
Strong job growth is back: Payrolls jump in June well above expectations
Payroll growth rebounded sharply in June as the U.S. economy added 224,000 jobs, the best gain since January and running contrary to worries that both the employment picture and overall growth picture were beginning to weaken.
The unemployment rate edged up to 3.7% as labor force participation rose, according to the Labor Department.
Economists surveyed by Dow Jones had expected nonfarm payrolls to rise by 165,000 and the unemployment rate to hold steady at 3.6%.
May’s initially reported growth of 75,000 had raised doubts about the durability of the record-setting expansion that began a decade ago. The May count was revised lower to 72,000.
Federal Reserve policymakers have been watching the jobs numbers closely…
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President Donald Trump has been sharply critical of the Fed and repeated his previous sentiments later in the morning.
“We don’t have a Fed who knows what they’re doing,” Trump said, adding, as he has in the past, that the economy would take off like a “rocket ship” with lower interest rates.
Even CNN is impressed with the numbers.
From the Washington Examiner:
CNN business correspondent says June job report is ‘blowing away expectations’
CNN business correspondent Alison Kosik described the June job report as “blowing away expectations” on the network Friday morning.
The jobs report, which the Labor Department released on Friday, revealed that 224,000 jobs were created last month with the unemployment rate increasing slightly to 3.7%. June marks the fifth consecutive month with the rate remaining under 4%.
“If anybody, Jim, was convinced that May, with 72,000 jobs added, was the beginning of a trend, I think June is giving you your answer, that it looks like May was really just a fluke. So 224,000 Jobs added in June. Some of this may be students were out of school and they’re taking jobs for the summer. But this number certainly blowing away expectations,” Kosik began.
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